Biz Bits: Beware of storm chasers’

Thursday

Jul 29, 2010 at 12:01 AMJul 29, 2010 at 2:32 AM

Weekly business rail, with warnings about flooding fix-up scams and work-at-home scams, and more.

Tip of the Week

After recent flooding across the nation, officials are advising people to remain alert for “storm chasers” - scam artists who will try to take advantage of your losses. Here are some tips from Illinois Attorney General Lisa Madigan:

- Call your attorney general’s office to check out a contractor and to find out how many consumer complaints, if any, have been filed against a particular business.

- Be wary of contractors who go door to door to offer repair services. Ask for recommendations from people you know and trust and, whenever possible, use established local contractors.

- Even if there is a need to act quickly, shop around for the best deal. Get written estimates from several contractors and don’t be rushed into a deal.

- Get all of the terms of a contract in writing and obtain a copy of the signed contract. Never make full payment until all the work has been completed to your satisfaction. Do not pay in cash.

- Be aware that you have the right to cancel within three business days if you sign a contract based on a salesman’s visit to your home.

- Ask to see required state or local permits or licenses.

BBB Watch

Work-at-home scams rise and fall along with the economy. Unfortunately, with many people out of work, this type of activity is widespread and may take advantage of those least able to afford any loss of money. The Better Business Bureau offers those looking for new employment opportunities some tips so that they don't get burned in the job-hunting process. To avoid falling victim of work-at-home scams, the BBB recommends the following warning signs:

- Requirements of money for instructions or products before telling you how the plan works

- Claims of "no experience necessary"

The BBB also notes that when most people respond to an advertisement for working at home, such as stuffing envelopes, they will generally receive - for a fee - instructions as to how to place similar ads in other publications, also offering work at home opportunities. Allegedly, they will get paid for each response you receive and send back to the original company.

For more information on this and other scams, visit www.bbb.org.

The List

According to Forbes.com, here are the 10 richest presidents in our nation’s history:

- George Washington

- Herbert Hoover

- Thomas Jefferson

- John F. Kennedy

- Andrew Jackson

- Theodore Roosevelt

- Zachary Taylor

- Franklin D. Roosevelt

- Lyndon B. Johnson

- James Madison

Number to Know

23.6: Percent that new-home sales jumped in June after a dismal couple of months.

GateHouse News Service

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